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The Passive-Aggressive Investor For 2/24-2/28

Mar. 02, 2020 8:10 PM ETHP, SKT, T, WST, XOM, UVV
Hale Stewart profile picture
Hale Stewart


  • The backdrop is now very risk-off: international markets sold off, bond markets rallied.
  • The core portfolios held up pretty well.
  • I spotlight Universal Corp.

Let's start where we always do: the market and economic backdrop

Next, here are the main ETFs I track for this column:

From Finviz.com; the week column is organized high to low; the second column is not

Last week was an equity market bloodbath, with five of the ETFs I track down over 10%. On the plus side, however, the bond markets were higher as investors sought the safe haven of conservative debt.

Here are the charts of the ETFs, starting with the bonds:All are near 2-month highs, save for the PFF (which I include on the bond side because of its bond-like features) which dropped with the broader equity markets.Meanwhile, the equity market ETFs sold off sharply.

Before moving forward, remember that last week was a unique and seldom seen global financial event where a singular trigger (the coronavirus) acted across all asset classes in a severe manner. We might see the same thing next week. But when looking at the above charts, remember that last week was rare.

Here is the performance table of the core portfolios: Data from Finviz; author's calculations. Green means an increase, while red means a decrease. The first number in the left column is the SPY/VEU percentage, while the second number is the TLT/BNDX percentage. If you're more conservative, opt for the higher TLT/BNDX percentage portfolio. If you're aggressive, reverse the process.

Before looking at the performance chart, let's dive into the performance data because it contains a lot of good information. First, note that

This article was written by

Hale Stewart profile picture
Hale Stewart spent 5 years as a bond broker in the late 1990s before returning to law school in the early 2000s. He is currently a tax lawyer in Houston, Texas. He has an LLM in domestic and international taxation (MagnaCumLaude). He is the author of the book The Lifetime Income Security Solution. Follow me on Twitter at @originalbonddadYou can read his legal analysis on his law office's blog.

Analyst’s Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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